10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Electrical Industries Co. reported a net profit after Zakat and tax of SAR 23.9 million for 2020.

2) Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 26.1 million for 2020, a 9% drop year-on-year (YoY).

3) Almarai Co. signed an agreement with the shareholders of Bakemart UAE and Bakemart Bahrain, to acquire 100% of their shares, for an enterprise value of AED 93.5 million (SAR 95.5 million).

4) National Building and Marketing Co. (NBM) cancelled the memorandum of understanding (MoU) for purchase of 50% stake of German Saudi Industrial Co., for SAR 200 million.

5) National Agricultural Development Co. (NADEC) reported a net profit after Zakat and tax of SAR 35.7 million in 2020.

6) Saudi Enaya Cooperative Insurance Co. narrowed its net loss before Zakat to SAR 31.9 million for 2020.

7) United Electronics Co. (eXtra) completed the buyback of the intended number of its shares to keep as treasury shares and add them to the Employees Long-Term Incentive Program (LTIP).

8) Saudi Arabian Mining Co.’s (Maaden) shareholders approved the board’s recommendation on withholding dividend for 2020.

9) Najran Cement Co. completed the establishment of a limited liability transportation company after obtaining all necessary licenses for its operation.

10) Brent crude on Wednesday declined 11 cents to reach $68.28 per barrel. WTI crude also decreased 4 cents to reach $64.6/bbl.